For Sale | Holiday Inn Hotel & Suites (Wagga) 'The Mill' Development
With 148 rooms, the Holiday Inn Hotel & Suites is set to be the largest hotel in Wagga Wagga. The hotel will comprise a 130-room new-build hotel, and the adaptive reuse of the iconic Murrumbidgee Flour Mill containing 18 suites, lobby & bar, two restaurants, function centre and parking. Expected to be fully operational by 2022, the hotel is the perfect union of Wagga Wagga’s rich history and contemporary culture.
The asset is underpinned by a best-in-class management team, with a 15-year management agreement to internationally acclaimed IHG Hotel Management commencing upon completion of the asset. Operating 5,895 hotels globally in over 100 countries, IHG is a global brand with strong local presence; market leaders across every sector. The management agreement incorporates a three-year performance guarantee of projected gross operating income.
As international borders remain closed for the foreseeable future, domestic tourism is set to boom. Australians spent $62.3 billion on international travel in 2019, taking 9.9 million trips overseas. Regional tourism is leading market recovery, capitalising on renewed interest in interstate and intrastate travel and presenting exceptional future growth prospects for the Holiday Inn Hotel & Suites.
The Holiday Inn Hotel & Suites, Wagga is being formally offered for sale via an International Expressions of Interest campaign closing 4pm (AEST) Thursday 17 September 2020.
For more information please contact the exclusive selling agents.
**Photos are artist impression only**
|n a||Expression of Interest||Expression of Interest||11200.00sq m||Available|